๐ฆ AUD/USD Marking Up Price Before Falling ๐ฆ
๐ฆ AUD/USD Marking Up Price Before Falling.
๐ฆ Nearest strong support zone: around the 0.382 level of the entire upward wave.
๐ฆ Nearest strong resistance zone: around the recent highs.
๐ฆ Technical environment:
- Moving averages: Uptrened
- MACD: Downtrend (Divergence)
- RSI: Downtrend (Divergence)
- Supertrend: Uptrend
๐ฆ Price action: the AUD/USD today pushed price near the 0.7 level on the back of the US CPI inflation data, which was exactly what the market is expecting (6.5%). We are currently in a resistance zone from which I expect a downward reaction. Looking at the candlestick formations, it does not look to me like a strong trend continuation.
๐ฆ The scenario I'm playing is to wait for the start of a decline to join in. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
๐ If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. ๐
๐ฆ Nearest strong support zone: around the 0.382 level of the entire upward wave.
๐ฆ Nearest strong resistance zone: around the recent highs.
๐ฆ Technical environment:
- Moving averages: Uptrened
- MACD: Downtrend (Divergence)
- RSI: Downtrend (Divergence)
- Supertrend: Uptrend
๐ฆ Price action: the AUD/USD today pushed price near the 0.7 level on the back of the US CPI inflation data, which was exactly what the market is expecting (6.5%). We are currently in a resistance zone from which I expect a downward reaction. Looking at the candlestick formations, it does not look to me like a strong trend continuation.
๐ฆ The scenario I'm playing is to wait for the start of a decline to join in. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
๐ If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. ๐
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